Miami Cop Accused of Running Ponzi Scheme and Trying to Flee to Costa Rica
January 31, 2018
A longtime Miami police officer who patrolled the city’s waterways is also accused of running a ponzi scheme, according to feds.
His alleged pitch: Invest in his Costa Rican loan company and expect returns of over 20 percent.
Federal prosecutors said Tuesday morning that the pitch was a scam after announcing criminal charges against the man. They claim the money was used only to enrich himself and pay back early investors.
The 41-year-old was arrested Monday after FBI agents learned he was suddenly flying to Costa Rica because of an “emergency.” Agents arrested the cop while he was boarding a flight at Fort Lauderdale-Hollywood International Airport.
The man is charged with conspiracy to commit wire fraud.
Miami internal affairs and the FBI said the man operated his alleged Ponzi scheme between 2011 and 2015.
According to a criminal complaint, he offered “low-risk” investments in his company, which he claimed was giving high-interest loans to property owners in Costa Rica. The loan recipients used their properties in the Central American country as collateral, he said.
But feds claim the man just showed phony paperwork that claimed the company had property rights to land in Costa Rica.
Federal prosecutors did not disclose how much the man is suspected of getting through his investment scheme.
This case is clear example of a white collar crimes arrest. White collar crimes are non-violent offense committed for financial gain. These crimes are often investigated by state or federal agencies, and some of these investigations can carry on for months. Some of these investigations may continue for months. Anyone who is under investigation or has been arrested for a white collar crime should not talk to anyone, especially police, until consulting their legal counsel. Our South Florida White Collar Crimes Lawyers at Whittel & Melton understand the urgency of your situation and that immediate action must be taken to strengthen your defense.
Anytime police conduct an investigation, they may ask you to explain a few things. Regardless of your innocence, do not make the mistake of answering questions without your attorney present. Police are only looking to incriminate you. Our firm can help you avoid saying anything that could be construed as an admission of guilt.
At Whittel & Melton, we provide a powerful defense against white collar crimes, including:
- Tax fraud
- Identity theft
- Immigrations violations
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- Ponzi schemes
If you have been arrested for a white collar crime, call us today at 561-367-8777 or contact us online to discuss your defense strategy. Your initial consultation is free.